Corcentric is a leading supplier enablement specialist and is helping us make a quick
and secure transition to electronic payment. Please help us do so by activating
your company’s profile on the Corcentric Platform. You can get started by clicking
‘Get Started’ to create your profile and enjoy the benefits of getting paid electronically
like so many of our suppliers who’ve already joined our Electronic Payment Enablement
program! There are many benefits of participating in the Electronic Payment Enablement
program. Here are a few that you may enjoy:
Payments will be credited directly to your bank account.
An email notification will be provided to you before each payment.
Payment details will also be provided so that you can easily reconcile our credits to your bank account.
There is a lot to be gained by activating your company's profile on the Corcentric Platform. Some of these perks are:
It's simple and there's absolutely zero cost to activate a profile for your company.
It could very easily result in more of your customers paying you electronically.
It's a fantastic way to link to your current and future trading partners so you always have point and click access to the type of information you currently have to provide or collect via phone, fax or email.
Accepting Commercial Card Payments
Most suppliers have already made the investment required to accept credit card payments. Many of these suppliers now recognize that accepting credit card payments makes them a more attractive partner for organizations using their commercial card program to pay accounts payable driven expenses.
Supplier-Initiated Card Payments
Also referred to as Virtual Card or One-Time-Use Card; this is the most common type of AP driven commercial card program. It's characterized by the supplier receiving an email each time a customer has approved a payment. The email contains a one-time-use credit card number, expiration date, 3-digit security code, and authorized payment amount which the supplier enters into its physical or virtual credit card terminal to initiate the card transaction.
Buyer-Initiated Card Payments
Unlike supplier initiated card payments which can be accepted by any supplier that accepts credit cards, this type of commercial card payment is characterized by suppliers needing to obtain a Merchant ID for buyer initiated card payments. Once a supplier has this Merchant ID, approved customers credit the supplier merchant account directly so the supplier no longer has to use a physical or virtual credit card terminal to initiate the card transaction.
Suppliers generally realize the following card acceptance benefits in most card acceptance situations:
Flexible remittance delivery
Preferred supplier status
Protecting Financial Information Online
There are basic steps your company can take to protect its financial information including maintaining network security, restricting use of wireless connections and personal computers and requiring employees to log out of financial applications when not at their workspace.
Creating a strong password containing various upper and lower case letters and numbers which are not easily "guessed" by others then protecting your password by not sharing it with others, not storing it on your computer and changing it periodically are all steps you should take to help us protect your company's financial information.
Dual Factor Authentication
Creating a strong password and maintaining the secrecy of your password are good steps toward protecting your company's sensitive payment information, but we take security one step further. We enforce Dual-Factor Authentication, in which a code is sent either via text or via automated call to a phone number provided by the System Administrator of your company's Corcentric Profile. This code must be entered to gain access to your Corcentric Profile.
If you do not currently have a debit block protecting your bank account, you should strongly consider contacting your bank today to put one in place. A debit block prevents electronic debits on your bank account which provides protection against several common forms of attempted fraud and theft, which helps us further protect your company's financial information.
Frequently Asked Activation Questions
Who is Corcentric?
Corcentric is a leading provider of supplier enablement services, focused on helping companies collect, validate, and manage the type of supplier information needed to do business with confidence. The Corcentric Platform provides an efficient and low-cost solution for companies to create an online profile, easily manage their profile over time, and securely share their profile with selected trading partners. Suppliers linked through the Corcentric Platform can leverage the electronic payment information contained within their profile to quickly, easily, and securely make the transition to receiving electronic payments.
What will happen if I don't participate?
If you choose not to participate, you will continue to be paid by check but you should understand that we are committed to purchasing from suppliers who support the initiatives we undertake to improve our business processes and lower the overall cost of doing business.
How much does this cost?
There is no cost for you to register for our Electronic Payment Program through the Corcentric Platform.